12 U.S.C. § 1748d — Lease of property; terms and conditions

Page 831 TITLE 12—BANKS AND BANKING § 1748g stituted the requirement that the mortgagor shall enter into the agreement required by section 1715r of this title for former provisions relating to certification of builders’ costs, the certifications now being pre- scribed into section 1715r. Subsec. (f). Act Aug. 2, 1954, § 112(c), in second sen- tence, substituted a twenty-year period for ten-year pe- riod, with respect to the maturity of debentures. 1953—Subsec. (a). Act June 30, 1953, § 10(a), in second proviso substituted ‘‘July 1, 1954’’ for ‘‘July 1, 1953’’. Subsec. (b). Act June 30, 1953, § 10(b), (c), inserted par. commencing ‘‘The mortgagor shall agree’’; and, in first sentence of par. commencing ‘‘The mortgage shall pro- vide’’, substituted ‘‘41⁄2 per centum’’ for ‘‘4 per cen- tum’’. 1951—Subsec. (a). Act Sept. 1, 1951, § 601(a), sub- stituted ‘‘July 1, 1953’’ for ‘‘July 1, 1951’’ in second pro- viso. Subsec. (b)(3)(C). Act Sept. 1, 1951, § 601(b), inserted proviso. Subsec. (d). Act Sept. 1, 1951, § 601(c), inserted ref- erence to the Atomic Energy Commission in last sen- tence. Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF 1954 AMENDMENT Amendment by section 112(c) of act Aug. 2, 1954, as not applicable in any case where the mortgage involved was insured or the commitment for such insurance was issued prior to Aug. 2, 1954, see section 112(e) of that act, set out as a note under section 1710 of this title. EFFECTIVE DATE OF 1951 AMENDMENT Act Sept. 1, 1951, ch. 378, § 601(a), 65 Stat. 312, provided that the amendment made by that section is effective July 1, 1951. § 1748c. Repealed. Pub. L. 89–117, title XI, § 1108(aa), Aug. 10, 1965, 79 Stat. 507 Section, act June 27, 1934, ch. 847, title VIII, § 804, as added Aug. 8, 1949, ch. 403, § 1, 63 Stat. 575; amended Aug. 11, 1955, ch. 783, title IV, § 401, 69 Stat. 650, provided for disposition and use of excess moneys in Armed Services Housing Mortgage Insurance Fund, issue and cancellation of debentures, and receipt and payment of credits and charges. § 1748d. Lease of property; terms and conditions Whenever the Secretary of the Army, Navy, or Air Force determines that it is necessary to lease any land held by the United States on or near a military installation to effectuate the purposes of this subchapter, he may lease such land upon such terms and conditions as will, in his opinion, best serve the national interest. The authority conferred by this section shall be in addition to and not in derogation of any other power or authority of the Secretary of the Army, Navy, or Air Force. (June 27, 1934, ch. 847, title VIII, § 805, as added Aug. 8, 1949, ch. 403, § 1, 63 Stat. 576; amended Aug. 11, 1955, ch. 783, title IV, § 401, 69 Stat. 651.) Editorial Notes AMENDMENTS 1955—Act Aug. 11, 1955, struck out specific references to sections authorizing leases of property, and struck out the power to sell, transfer, and convey real prop- erty. § 1748e. Mortgages on property in Alaska The second sentence of section 1715d of this title, as amended, relating to housing in the State of Alaska, shall not apply to mortgages insured under this subchapter on property in said State. (June 27, 1934, ch. 847, title VIII, § 806, as added Aug. 8, 1949, ch. 403, § 1, 63 Stat. 576; amended Aug. 11, 1955, ch. 783, title IV, § 401, 69 Stat. 651; Pub. L. 86–70, § 10(d), June 25, 1959, 73 Stat. 143.) Editorial Notes REFERENCES IN TEXT Section 1715d of this title, referred to in text, was in the original ‘‘section 214 of the National Housing Act, as amended’’. Section 214 of that Act was classified originally to section 1715d of this title and to section 484d of Title 48, Territories and Insular Possessions. Section 484d of Title 48 has been omitted from the Code. AMENDMENTS 1959—Pub. L. 86–70 substituted ‘‘State’’ for ‘‘Terri- tory’’ in two places. 1955—Act Aug. 11, 1955, reenacted section without change. § 1748f. Rules and regulations The Secretary is authorized and directed to make such rules and regulations as may be nec- essary to carry out the provisions of this sub- chapter. (June 27, 1934, ch. 847, title VIII, § 807, as added Aug. 8, 1949, ch. 403, § 1, 63 Stat. 576; amended Aug. 11, 1955, ch. 783, title IV, § 401, 69 Stat. 651; Pub. L. 90–19, § 1(a)(3), (q), May 25, 1967, 81 Stat. 17, 19.) Editorial Notes AMENDMENTS 1967—Pub. L. 90–19 substituted ‘‘Secretary’’ for ‘‘Com- missioner’’ and struck out authorization for appoint- ment by the Commissioner of a Special Assistant for Armed Services Housing for Mortgage Insurance with an adequate staff to expedite operations and eliminate administrative obstacles to this subchapter, respec- tively. 1955—Act Aug. 11, 1955, amended section generally, striking out provisions which stated that nothing should be construed as exempting property from tax- ation, and inserting provisions authorizing the Com- missioner to make rules and regulations and to appoint a Special Assistant. § 1748g. Cost certification Except in the case of mortgages on multi- family rental housing projects insured under section 1748h–2 of this title, the cost certifi- cation required under section 1715r of this title shall not be required with respect to mortgages insured under the provisions of this subchapter. (June 27, 1934, ch. 847, title VIII, § 808, as added Aug. 8, 1949, ch. 403, § 1, 63 Stat. 576; amended Aug. 11, 1955, ch. 783, title IV, § 401, 69 Stat. 651; Pub. L. 86–372, title VII, § 704(b), Sept. 23, 1959, 73 Stat. 686.) Editorial Notes AMENDMENTS 1959—Pub. L. 86–372 substituted ‘‘Except in the case of mortgages on multifamily rental housing projects in- sured under section 1748h–2 of this title, the’’ for ‘‘The’’.